Tech Five: LinkedIn plunges off outlook

Yet another tech company’s stock is getting hammered because of weak forecasts.

Let’s look at tech stocks to watch:

LinkedIn: Shares of the professional social network sunk 40% in morning trading after missing estimates for its first quarter outlook. LinkedIn lost $10 billion in market value, making it the worst stock drop for the company since going public. LinkedIn projected revenue of $820 million, while Wall Street forecast $867 million. However, LinkedIn claims investor forecasts are too optimistic.

Symantec: Shares of the security software maker surged after snagging a $500 million investment from Silver Lake Partners, reports Reuters. The company is also planning a $2.3 billion share buyback.

Apple: The number of retail locations accepting Apple Pay topped 2 million, reports Bloomberg. New stores rolling out the mobile payment service include Crate & Barreland Chick-fil-A.

Alphabet: Google revealed several updates to the software that runs its Android smart watches. New features include the ability to perform gestures to navigate and speaker support for voice calls.

Samsung: The electronics giant’s first Blu-ray players supporting 4K went on sale Friday. They’re priced at $399.[related-posts]

The Google Nexus Smartwatch. Image Credit: Amazonaws
The Google Nexus Smartwatch. Image Credit: Amazonaws

[USA Today]

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